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Nesta dissertação procuramos abordar o surgimento da figura do crowdfunding, um novo meio de financiamento, junto do público, que recorre a plataformas online. Explicitamos as diferentes modalidades existentes, em especial o equity crowdfunding. Com base nesta informação o conceito de equity crowdfunding é introduzido e discutido em profundidade, incluindo as razões para a sua existência e os
desafios que acarreta. Da análise do equity crowdfunding conclui-se que esta modalidade pode actualmente ser vista como um género de ponte de financiamento para jovens empresas, que é utilizada quando outras formas tradicionais de financiamento não podem (ainda) ser obtidas. Além disso, pode-se assumir que existe potencial para se tornar uma forma alternativa de financiamento para PME’s mais desenvolvidas.
In this thesis, we seek to adress the emergence of crowdfunding, a new means of financing, by a crowd, using online platforms. We explain the diferente existing models, especially the equity crowdfunding. Based on this information, the concept of equity crowdfunding is introduced and discussed in-depth, covering reasons for its usage and challenges connected to it. From the equity crowdfunding analysis, it can be concluded that this modality can currently be seen as a form of bridge funding for young companies, which is used when other, traditional financing sources cannot (yet) be obtained. Additionally, a potencial to become an alternative way of funding for more developed SMEs can be assumed.
In this thesis, we seek to adress the emergence of crowdfunding, a new means of financing, by a crowd, using online platforms. We explain the diferente existing models, especially the equity crowdfunding. Based on this information, the concept of equity crowdfunding is introduced and discussed in-depth, covering reasons for its usage and challenges connected to it. From the equity crowdfunding analysis, it can be concluded that this modality can currently be seen as a form of bridge funding for young companies, which is used when other, traditional financing sources cannot (yet) be obtained. Additionally, a potencial to become an alternative way of funding for more developed SMEs can be assumed.
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Crowdfunding Regulamentação Sociedades comerciais Beneficiários Plataformas online Investidores Direito dos valores mobiliários Regulation Companies Fundraisers Online platforms Investors Securities law